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Gilman final

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Evolution of Retail : Barter System was known as the first form of retail. As time passed currency was exchanged with goods andservices. Hawkers carried out the first Retailing in Push Carts Followed by Kirana Stores …….. Mom and Pop Stores Finally Manufacturing era necessitated the small stores andSpecialty stores It was a seller market still than this point of time with thelimited no of brands available Barter chain  Single brand franchise chain Standalonelarge store <Chain of large stores And Finally Malls Economist says that Boom Has Started of Retail due tomore spending Capacity of Indians Emerging of retail started in brief in patterns like changingface of the Indian retail sector Provide customers with 3 V’s i.e.(. Value, Variety and

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What is Retail? “A retail is one who stocks the producers goods and isinvolved in the act of it to the individual consumer, at theMargin of Profit As such retailing is the last link that connects the individualconsumer with the manufacturing and distribution chain. Selling Directly to consumer selling in smaller units /quantities the bulk. Very high numbers near to neighborhood Reorganized by the service levels Retail Sector today is worth of US $ 394 Billion

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ORGANISED RETAILINGrefers to trading activities undertaken by licensedretailers, that is, those who are registered for salestax, income tax, etc. These include the corporate-backedhypermarkets and retail chains, and also the privately ownedlarge retail businesses.

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Challenges: Taxation laws that favor small retailers. Different structure of sales tax in different states. Multi-point octroi collection. Lack of trained workforce. Problems of supply chain and logistics. High cost of real estate. Limited land available at prime locations

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ADAVANTAGES: Largest and fastest growing sector inIndia. Modern retailing forms one point stop forall shopping. Consumer gets a large product variety ofbrands to choose from one roof. First it was a sellers market and now itschanging to buyers market.

11.
OPPORTUNITIES FOR THE ORGANIZEDRETAIL SECTOR IN INDIA India’s booming economy is a major source ofopportunity. It is the third largest in the world interms of purchasing power. India is the secondfastest growing major economy in the world. Indias huge population has a per capitaincome of Rs 44,345. The proportionate increase in spending withearnings is another source of opportunity. Increasing instances of Double Incomes inmost families coupled with the rise in spendingpower.

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CONCLUSION There is very huge potential for the growth of organized Retailing in India. By following some of the strategies it can rise tremendously and canreach each and every nock and corner. Open communication should be established between functionaldepartments. A balance should be maintained between brand building and promotion.Non-marketing factors like gas prices, weather etc. Huge Scope forDevelopment Competitive Market Organized retail is fast growing at a rate of 30% Per Year Greater opportunity for employment